351638
You'll need to sign in or create an account to connect with an expert.
You can only deduct $4000 in 529 plan contributions ($2000 before 2018) each year. But you can carry the unused amounts forward to the next year. For example, if you contributed $5000 to your Ohio 529 plan, in 2017, you were only allowed to deduct $2000. You have $3000 "Prior Year Unused Amount" that you can deduct 0n your 2018 return.
You can only deduct $4000 in 529 plan contributions ($2000 before 2018) each year. But you can carry the unused amounts forward to the next year. For example, if you contributed $5000 to your Ohio 529 plan, in 2017, you were only allowed to deduct $2000. You have $3000 "Prior Year Unused Amount" that you can deduct 0n your 2018 return.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
RicsterX
Returning Member
tianwaifeixian
Level 4
margmato
Level 1
in [Event] Ask the Experts: Tax Law Changes - One Big Beautiful Bill
xiaochong2dai
Level 3
pv
Level 1
in [Event] Ask the Experts: Tax Law Changes - One Big Beautiful Bill